Which of these scenarios seems more unrealistic.
- The Minnesota Timberwolves winning an NBA championship
- The $400 billion “Telosa” city planned by Marc Lore actually happening
If you follow the NBA, you’d probably go with A. Though both are so far-fetched you wonder what Marc Lore, who is also the owner of the T-wolves is smoking.
More details of the “futuristic utopia” called Telosa are being released, and each with each update it sounds even more outlandish.
Lore was pretty much unknown outside of the tech and e-commerce world a year ago, but how he’s moving closer to becoming a household name. He and Alex Rodriguez partnered up to buy the NBA’s Timberwolves, and then Lore unveiled his Telosa vision
He’s calling the concept of this city “equitism,” a mashup of equality and capitalism.
It’s hard to take him serious after just hearing that, but here’s some more info in case you are thinking it sounds like a cool place to live.
Applications might be taken soon for the first 50,000 “settlers.” They could move in by 2030 Lore revealed.
Lore had a chat with USA Today, and told them that citizens of Telosa would be able to build their own homes and sell them. As for ownership of the land itself? Sorry, Lore is keeping the title to all of that.
Here’s some of what he told USA Today.
“The sole purpose of creating a city in the desert would be so it’s owned by the community, basically take all the appreciation of the land and give it back to the citizens. Taxes paid will go back to the city for infrastructure – roads, tunnels and bridges – so everyone would know exactly where their money is going.”
The first phase has a price tag of $25 billion, and the whole project will run about $400 billion.
He also said he plans to create a VC fund for startups that would move to Telosa.
Hey, he made Walmart a fortune when he ran their e-commerce unit and he’s a billionaire. It’s too early to bet against him regardless of how far-fetched this seems.